PROF — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-07

• The following selected financial information as of and for the three months ended March 31, 2026 and 2025 have been derived from the unaudited consolidated financial statements and should be read in conjunction with those unaudited consolidated financial statements and related notes.

• We deploy a hybrid revenue business model in the United States to market TULSA-PRO by charging for the system separately as capital and an additional charge for the one-time-use devices. The Sonalleve product is marketed primarily outside North America deploying a one-time capital sales model with l…

• For the three months ended March 31, 2026, we recorded revenue totaling $5,337, consisting of $2,863 from the one-time sale of capital equipment and $2,474 from recurring – non-capital revenue. For the three months ended March 31, 2025, we recorded revenue of $2,621, consisting of $820 from the one-…

• For the three months ended March 31, 2026, R&D expenses increased by $454, or 9%, to $5,262 compared to $4,808 for the three months ended March 31, 2025. The increase in R&D expenses was largely due to increased headcount, travel expenditures and higher consulting expenditures due to spending on R&D…

• SG&A expenses for the three months ended March 31, 2026 decreased by $1,620, or 20%, to $6,591 compared to $8,211 for the three months ended March 31, 2025. The decrease in SG&A was primarily due to decreased salaries, sales force and commission

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• Comparison of Three and Nine Months Ended September 30, 2025 and 2024

• The following selected financial information as at and for the three and nine months ended September 30, 2025 and 2024 have been derived from the unaudited consolidated financial statements and should be read in conjunction with those unaudited consolidated financial statements and related notes.

• We deploy a hybrid recurring revenue business model in the United States to market TULSA-PRO, i) charging a one-time payment that includes a supply of our one-time-use device, use of the system as well as our Genius services that support each TULSA center with clinical and patient recruitment and ii…

• For the three months ended September 30, 2025, we recorded revenue totaling $5,289, consisting of $1,223 from the one-time sale of capital equipment and $4,066 from recurring – non-capital revenue. For the three months ended September 30, 2024, we recorded revenue totaling $2,832, consisting of $179…

• For the nine months ended September 30, 2025, we recorded revenue totaling $10,121, consisting of $2,693 from the one-time sale of capital equipment and $7,428 from recurring – non-capital revenue. For the nine months ended September 30, 2024, we recorded revenue totaling $6,504, consisting of $952 …

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• Based on our assessment, management believed that, as of December 31, 2024, the Company’s internal control over financial reporting was not effective based on those criteria as a result of a material weakness in internal control over financial reporting discussed in the paragraphs below.

• A material weakness is a deficiency, or a combination of deficiencies, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis.

• In conjunction with the preparation of the Company’s financial statements for the year ended December 31, 2024, and specifically in connection with the recognition of revenue under ASC 606, Revenue from contracts with customers, management determined that the controls over the review of contract ter…

• During the three months ended September 30, 2025, we continued to take steps to implement our remediation plan with respect to the material weakness identified in our internal control over financial reporting. Specifically, in an effort to address the identified material weakness and enhance our int…

• While we believe that these efforts will improve our internal control over financial reporting in accordance with U.S. GAAP and SEC reporting requirements, the implementation of these measures is ongoing and will require validation and testing of the design and operating effectiveness of internal co…